How much would it take for you to retire now?

**moneybags** · 06-03-2008, 09:32 AM

I'd consider it at $2.5 million, but that would have to be after the 2 kids finish college and the house is paid for.

**gamecock43** · 06-03-2008, 09:34 AM

I have no idea. Or to phrase it better~ I have no idea of the amount of millions I would need.

**Caoineag** · 06-03-2008, 10:06 AM

Right now, at the ripe age of 26, I think 3 million would be enough to support my husband and I (excluding health coverage). BUT, being this young, I am pretty sure I would have to find something else to do like starting a business of my own.

Including health coverage, well, I am not sure I am insureable. Or for that matter, I am not sure my husband is either. We both have a strong family history of multiple cancers. So that would probably raise the real number to more like 8 million to be on the safe side.

**jIM_Ohio** · 06-03-2008, 10:12 AM

2.3 million

300k to pay off house
2 mil is a 60k income on 3% withdraw rate. I could probably retire on less, but 60k would make me pull the trigger and not look back.

**mom-from-missouri** · 06-03-2008, 11:28 AM

4 mil. So, we are about 1/2 there now. As soon as the houses are paid off, the mortgages amounts will go to the retirement funds.

**tripods68** · 06-03-2008, 11:40 AM

We can't imagine retiring at 39 and DW 33. We're just too young! But that doesn't stop us from buying lotto!

**Snave** · 06-03-2008, 11:51 AM

I would probably be in that 4 million mark area. I am 33 and my wife is 30, so we also would need to find something to do. I would take a year and screw around and play golf and have fun, but then it would be back to work for me - at least part-time.

**KellyB** · 06-03-2008, 11:57 AM

I'd need about $80K annually, so at a 3% drawdown I guess that's about $2.7 million? Plus paying off the house up front another $150K, so a total of $2.85 million. Wow.

**maat55** · 06-03-2008, 02:20 PM

I would give it a crack at 2 million. I would have to split it in half, with one half being a little more aggressively invested.

**Daylily** · 06-03-2008, 06:24 PM

That is a difficult question to answer without knowing how much health insurance will cost in coming years. I was recently on Cobra continuation and it was $800 a month for two people.

**Reldon** · 06-03-2008, 08:00 PM

I don't think I want to retire right now. It would be a little boring. My plan is also to move to a different country where the expenses are lower so I would probably be 2-3 Million if I was to retire right now.

**yellow heel** · 06-03-2008, 08:43 PM

Since we are young. I'd say 6 mils. 1 mil for a house in san diego and 5 mils to live off of. I am conservative.

**MonkeyMama** · 06-04-2008, 05:00 AM

Since I am 30 I have to go with the "no idea." I haven't really run the #s.

I think one of the biggest unknown factors for the young folk is longevity. A lot of my family has lived to 100 (like in the 80s) and now you hear life expectancy is going up at a rapid pace.

Then there is inflation and everything.

It would have to be many millions. Mostly I am way to risk adverse to retire so young. If I was on the brink of being able to, financially, I'd wait it out a bit.

I really haven't run the #s though. When I figure retirement #s I usually assume I'd live 40 years after retirement. I am not sure how the numbers change if the years significantly increase.

I wouldn't need much to live on today, but I'd want to make sure I was prepared for inflation for the next 100 years, just in case. I still have kids to put through college and all that too... So all that leads me to the conclusion that I would need many millions.

Yeah, I would have no desire to retire so young anyway.

**LivingAlmostLarge** · 06-04-2008, 05:09 AM

$6M at least. I'm under 30 so I need a lot, but worse, what the heck would I do? I have no kids, I guess get to having a few?

How much would it take for you to retire now?